Public Sector Pension Investment Board Raises Holdings in Monarch Casino & Resort, Inc. (NASDAQ:MCRI)

Public Sector Pension Investment Board boosted its stake in Monarch Casino & Resort, Inc. (NASDAQ:MCRI) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,829 shares of the company’s stock after purchasing an additional 1,124 shares during the period. Public Sector Pension Investment Board’s holdings in Monarch Casino & Resort were worth $1,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCRI. UniSuper Management Pty Ltd purchased a new stake in Monarch Casino & Resort during the 1st quarter valued at $536,000. Manning & Napier Advisors LLC purchased a new position in Monarch Casino & Resort during the 2nd quarter valued at about $3,307,000. Westwood Holdings Group Inc. bought a new position in Monarch Casino & Resort during the 1st quarter valued at approximately $2,822,000. SG Americas Securities LLC purchased a new stake in Monarch Casino & Resort in the 2nd quarter worth approximately $751,000. Finally, US Bancorp DE grew its position in shares of Monarch Casino & Resort by 8.6% in the 1st quarter. US Bancorp DE now owns 6,124 shares of the company’s stock worth $459,000 after buying an additional 483 shares during the last quarter. Institutional investors own 62.37% of the company’s stock.

Monarch Casino & Resort Stock Performance

MCRI stock opened at $78.92 on Monday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 18.66 and a beta of 1.73. The business’s 50 day moving average price is $74.87 and its two-hundred day moving average price is $71.01. Monarch Casino & Resort, Inc. has a fifty-two week low of $56.25 and a fifty-two week high of $80.22.

Monarch Casino & Resort (NASDAQ:MCRI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. Monarch Casino & Resort had a net margin of 16.31% and a return on equity of 17.05%. The company had revenue of $128.14 million during the quarter, compared to analyst estimates of $126.03 million. Sell-side analysts forecast that Monarch Casino & Resort, Inc. will post 4.62 earnings per share for the current year.

Analysts Set New Price Targets

MCRI has been the subject of a number of recent analyst reports. Truist Financial raised their price target on Monarch Casino & Resort from $74.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Macquarie reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Monarch Casino & Resort in a research report on Thursday, July 25th.

Monarch Casino & Resort Profile

Monarch Casino & Resort, Inc, through its subsidiaries, owns and operates the Atlantis Casino Resort Spa, a hotel and casino in Reno, Nevada. It also owns and operates the Monarch Casino Resort Spa Black Hawk in Black Hawk, Colorado. The company was incorporated in 1993 and is based in Reno, Nevada.